SEC Settles With Agency Atty Over Madoff Documents

The U.S. Securities and Exchange Commission has settled a lawsuit by an agency attorney seeking documents related to its failure to uncover the massive Bernie Madoff Ponzi scheme, according to a Monday court filing. The SEC and plaintiff Kathleen Furey, senior counsel at the agency, announced they had settled the case “in principle” in a one-page letter to the court. Exact terms of the deal were not disclosed. Furey filed suit in September 2013, seeking documents purportedly showing that the SEC’s New York regional office whiffed on the Madoff investigation because it had a policy against pursuing investment management cases between January 2002 and December 2008, when the Ponzi scheme first came to light. Furey is the sole SEC attorney in the New York office supporting the investment management examination group, according to her LinkedIn page. More on Law360 here.